Beiersdorf rises on Q1 sales beat, outlook hike

** Shares in Beiersdorf BEI rise 1.3% after the Nivea maker posted higher than expected Q1 organic sales growth and raised its outlook

** The stock is one of the few risers on the German blue-chip index DAX, which falls 1.47%

** The skincare firm reports Q1 organic sales growth of 7.3%, ahead of a Vara analyst consensus of 6.2%

** It expects sales to grow by 6% to 8% in 2024, up from the "mid-single-digit" growth forecasted in February

** Its flagship brand Nivea's sales grew 12.6%, offsetting a 5.4% decline in the Tesa division; luxury brand La Prairie sales grew 1%, turning around after last year's 15% decline

** "We expect today's results to drive modest uptick in consensus EPS24e driven by top-line expectations," J.P. Morgan says

** JPM adds Beiersdorf to its positive Catalyst Watch, but notes the slowdown in the U.S. may take some shine off the strong Q1 and limit upside to share performance